"Economic Stimulus" or Voodoo Economics?
Like most American taxpayers, you probably received a letter from the IRS recently ... and after that brief moment of panic, you probably opened it to read the following:
We are pleased to inform you that the United States Congress passed and President George W. Bush signed into law the Economic Stimulus Act of 2008, which provides for economic stimulus payments to be made to over 130 million households.
Sounds pretty good, doesn't it? "Stimulus payments" of up to $1,200 per household, more for families with children. Like one of those sweepstakes letters, only the check really is in the mail.
You got that letter -- which cost $40 million to mail, by the way -- for a good reason: Politicians like Congressman Todd Akin, who voted for the Economic Stimulus Act of 2008, want to make sure you know that they are "giving you money." And lest you forget, you can expect another self-congratulatory letter before you get your check.
Make no mistake about this: I don't begrudge you that $1,200. But let's think this over for just a minute. Where did that money come from? Or, rather, where will it come from?
The total cost of the "economic stimulus" package is nearly $200 billion. With the federal budget already out of balance, did Congress tighten its belt? Did it identify programs it could cut, or waste, fraud and abuse it could put a stop to?
No. Congress just told President Bush to mail the checks. The cost of this "economic stimulus" package will simply increase this year's budget deficit and be added to the US government's debt, which already stands at more than $9 trillion.
Any "stimulus" produced by this gimmick will be temporary and largely illusory.
You'll pay part of it back in the short term in the form of inflation -- higher prices for the goods and services you buy -- and you, your children and your grandchildren will eventually be expected to make good on the rest by sending Uncle Sam more of your income on some future April 15th.
In the meantime, Congress will continue to raid your paycheck, to spend more money than it takes in, and to put it all on your tab ... unless you put a stop to it.
Republicans and Democrats have proven, over and over again, that they can't be trusted with the national checkbook and credit card. It's time to elect leaders who will make the hard decisions:
- The decision to take less of your money in the first place instead of attempting to buy your vote with phony "stimulus plans" that you, not they, pay for.
- The decision to balance the budget annually, based on the previous year's tax revenues, not on rosy projections of future revenues.
- The decision to balance the budget down with reduced spending, not up with tax increases.
History says that Republicans and Democrats aren't going to make these hard decisions. But for Libertarians, these decisions aren't hard -- they're what we're all about.

